Jan 29, 2020

Boeing lost money in 2019 for the first time in 20 years

A Boeing 777X airplane taking off on Jan. 25.

Boeing said it lost money last year for the first time since 1997, according to its latest quarterly report.

Why it matters: The company is mired in the biggest crisis in its history. Costs stemming from the grounding and production halt of the 737 MAX, its best-selling plane, is weighing on Boeing’s financials.

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Justice is elusive for Boeing's 346 plane crash victims

Illustration: Aïda Amer/Axios

Boeing is navigating how to handle the $100 million compensation fund it set up for the families of crash victims, even as a pledge by its former CEO to fatten the fund seems uncertain.

Why it matters: Boeing is pulling out all stops to appease Wall Street over the grounding of its 737 MAX, but it is saying little about the issue of restitution for the families of the hundreds who died due to faulty technology onboard its flagship plane.

New York Fed says Boeing's production freeze could cut U.S. GDP growth by 20% in 2020

Photo: Roslan Rahman /AFP/Getty Images

Analysts at the New York Fed expect the all-out production stoppage on Boeing's 737 MAX will have a sizable negative impact on U.S. growth this year.

State of play: The decline will produce a 0.4% decline in GDP growth, the NY Fed's Julian di Giovanni finds.

Boeing CEO won't change 737 MAX name

New Boeing CEO David Calhoun today told CNBC that he will not change the name of the troubled 737 MAX plane, which Boeing still hopes to get back online in the middle of 2020.

"I'm not going to market my way out of this."
— David Calhoun to CNBC
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